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eBook Do the Math 6-2 Buying a Vacation Home Barrie and Inga Adlington, of Birmingham, England, have just finished putting their three daughters through college.

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eBook Do the Math 6-2 Buying a Vacation Home Barrie and Inga Adlington, of Birmingham, England, have just finished putting their three daughters through college. As empty-nesters, they are considering purchasing a vacation home in the United States on a lake because prices have dropped in recent years. The house might also serve as a retirement home once they retire in 6 years. The Adlingtons' net worth is $383,000 including their home worth about $264,000 on which they currently owe $44,000 for their first with a $790 per month payment. Their outstanding debts in addition to their mortgage include $12,400 on one car loan ($256 monthly payment) $13,800 on a second car loan ($289 monthly payment), and a $25,500 second mortgage on their home taken out to help pay for their daughters' college expenses ($189 monthly payment). Their income is $100,000 a. Calculate the Adlingtons debt-to-Income ratio. Round your answer to two decimal places b. Advise them as to the wisdom of borrowing to buy a vacation home at this time The input in the box below will not be graded, but may be reviewed and considered by your instructor

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